Oil India targets ₹1.3 trillion capex by 2030, says CMD Ranjit Rath

Oil India chief expects that the construction of Mozambique LNG project will resume by the end of this year

State-run Oil India Ltd (OIL) is targeting a capital expenditure of ₹1.3 trillion by 2030 amid a major plan to take up deep-water exploration projects, Chairman and Managing Director Ranjit Rath said after the company’s annual general meeting (AGM).

 

The company also plans to scale up investments in green energy areas, including green hydrogen, biofuels and compressed biogas (CBG). It is planning an investment of ₹17,000 crore in the current financial year.

 

Rath told media persons that the expansion of OIL’s subsidiary Numaligarh Refinery Limited (NRL) in Assam is expected to be completed by December this year. The